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How Family Offices Could Shape Philanthropy
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Opinion

How Family Offices Could Shape Philanthropy

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Singapore has a long history of family philanthropy. The first family foundations were established after World War II and they donated generously to alleviate poverty, care for the vulnerable and build schools and hospitals. Today, there are over 400 foundations and trusts registered with the Commissioner of Charities but families that institutionalized big-ticket giving early on – such as the Lee Foundation and the Lien Foundation – continue to dominate philanthropic giving in Singapore.

Family offices are entities which typically manage assets for or on behalf of a family. And Singapore – well-regulated, transparent and politically stable – is rapidly becoming the region’s preferred choice for family offices. In 2020 alone, approximately 200 single family offices were set up here, doubling the total count. As wealth grows, charitable giving is likely to keep climbing.

These high-net-worth families have the potential to shake up philanthropy in Singapore. Traditionally, the Asian family office was an extension of the family business, with a laser-sharp focus on the bottomline. “However, as founders age and younger successors take over, we expect to see greater value placed on sustainable and responsible investing as well as on strategic philanthropy,” says our CEO Catherine Loh.

Research firm Wealth-X estimates that $1.9 trillion worth of wealth in Asia will be passed on to the next generation in the coming decade. For many heirs, giving back is emerging as an integral part of doing business. For them, philanthropic activities are an optimal way to build and sustain a family’s legacy, strengthen family cohesion and better engage family members. 

But here’s where it gets interesting. “Family offices have the power to shake up traditional philanthropy as they tend to be more agile and responsive compared to large foundations or corporate foundations, which are answerable to multiple stakeholders and layers of decision makers. Secondly, family businesses tend to be built by entrepreneurs and disruptors, making them more open to new ways of doing things,” says Catherine. 

What this means is that the new wave of family-driven philanthropy could fund untested, possibly radical new approaches to problems. It could find innovative ways of harnessing capital for social impact. It could move away from cheque book charity to a more engaged approach which could lean towards social enterprises or private-public initiatives. 

However, while most family offices across the globe are engaged in some form of giving back, only 41% of them have a philanthropic strategy in place, notes the Milken Institute. Few family offices have the in-house expertise to evaluate nonprofits, deploy philanthropic dollars optimally, or monitor and measure impact. 

“At CFS, we believe giving should be thoughtfully planned and driven by evidence-based insights,” says Catherine. As a cause-neutral philanthropy advisor, CFS offers unparalleled access to over 400 charities in Singapore, across a diverse range of sectors. We conduct due diligence to ensure the giving is accountable and creating a social impact.  

For family offices, a cost-effective and flexible way to embark on philanthropy is to set up a donor-advised fund (DAF). Since 2008, CFS has set up close to 200 DAFs: of these, almost half have been for families. We pool donor funds for investment management and with over $90 million in assets at any one time, smaller individual funds can reap the economies of scale that large foundations enjoy. Beyond this, as the country’s largest convener of philanthropic activities, we mobilise donor capital through collaborations and collective models to scale up impact and generate more empowering solutions. 

If you would like to find out more about how CFS can help you achieve your giving goals, please click here.

 

References:

  1. June Lee (January 2019) Exploring Family Philanthropy in Singapore – Asia Centre for Social Entrepreneurship & Philanthropy, National University of Singapore https://wings.issuelab.org/resources/34346/34346.pdf 
  2. EDB Singapore (February 2022) How Singapore is Becoming Asia’s Family Office Hub https://www.edb.gov.sg/en/business-insights/insights/how-singapore-is-becoming-asia-s-family-office-hub.html 
  3. Richard Newell (March 2022) New study sees Singapore as top family office hub – Asian Investor https://www.asianinvestor.net/article/new-study-sees-singapore-as-top-family-office-hub/476226 
  4. Milken Institute (June 2021) Philanthropy in a Family Office https://milkeninstitute.org/article/philanthropy-family-office
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News

“最后一桶金”规划新现象 别让财富添乱使尽不留遗产

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这些年来越来越多人把部分遗产捐给慈善,甚至出现鼓吹“现在就花掉孩子遗产”的SKIN(Spend Your Kids’ Inheritance Now的缩略语)“使尽”现象。

世界首富之一比尔·盖茨多次承诺,把1130亿美元(约1595亿新元)财产几乎全捐给慈善,三个孩子各获1000万美元;他坚信留大笔钱给孩子绝对不是好事。

沃伦·巴菲特则宣布,一分也不留给三个孩子,会捐出所有给慈善。

本期《实况报道》请擅长信托和遗产事务的律师、法学教授和老年学学者谈SKIN“使尽”现象,并访问退休人士,了解不准备留太多给孩子的原因。

“不要留太多给孩子”的趋势渐长,有越来越多找律师办理遗嘱或信托事务的人,把部分遗产捐给慈善,或自设信托,以便更好地管理所支持的慈善事业。

两名擅长处理信托和遗产事务的资深律师告诉《联合早报》,积极行善的客户越来越多,一些甚至已定期捐钱给慈善机构,而不是等到过世后才这么做。

王律师事务所(WongPartnership LLP)专业人士及私人客户争议业务组负责人沈木英律师说,不论是用在自己身上、当礼物送给孩子或至爱,或是捐给慈善机构,财富在一个人还活着时是最有价值的。

“有的施予者享受从金钱得到的快乐,比如孩子或慈善机构向他表达感激之情,或通过捐钱做了好事而乐在其中。

“从这个角度,我可以明白为何一些人想在有生之年花光一切。”

她就见过一分钱也不给孩子的父母,有的因为跟孩子的关系恶劣,有的则因孩子挥金如土。相反的,也有继承遗产者积极行善,打算捐出大部分遗产。

福鼎律师事务所(Fortis Law Corporation)创办人陈子佳律师说,把遗产留给孩子是根深蒂固的传统价值观,但“花光”个人财产的做法也有益处。

他指出,父母留遗产给孩子理由很多,比如,在孩子成长期间常“缺席”,所以用遗赠示爱或表达愧疚。

有的因孩子是特需者,就用遗产设立信托,让孩子在他们离世后生活有照应。

“不论什么原因,孩子可能真的需要帮助,而留遗产给孩子的做法本身就能教导孩子施予的价值。”

沈木英说,虽然有客户认为孩子有一半的可能性会乱花遗产,但也有客户认为给孩子一笔钱,将有助于孩子取得成功。

 

设立慈善基金更好掌控财富

她指出,多数客户“守住”财富,是为孩子所需。一旦满足了孩子的需求,他们便会开始捐出行善。

不过,她留意到捐献者更有主动权,“与其直接捐钱给慈善机构,更多客户设立自己的慈善基金,以便更好掌控”。

她的一个客户选择帮某慈善机构设立医疗设施,再给予资助,而不是直接捐钱。

一些则每年把资产或生意赚取的部分收入捐给慈善,另一些把部分资产纳入慈善信托或基金,为慈善机构创造收入。

“还有一些给每个孩子一份财产,也给一份做慈善。也有客户设条件,要孩子先捐出所得遗产的10%,才能继承剩余的90%。”

沈木英指出,微软创办人比尔·盖茨累积的财富是子孙享用不尽的,所以设立慈善基金。但一般打工族以养家育儿为己任,慈善可能不是第一选项。

“事实是,越没钱的人,越要孩子过得比他们好,所以想方设法留下资产,但我认为帮孩子,不该凌驾于自己的需求和生活享受之上。”

陈子佳也认为,必须在SKIN和留遗产之间,取得平衡。

“我已立好遗嘱,也制定了持久授权书(LPA)。我确保自己有足够资源办好三件事:应付医药和退休开销,以及清还所有贷款和债务。”

 

孩子主动要求不要遗产

这些年来,陈子佳看到不少客户定期捐钱给慈善机构,有的甚至把遗产全捐给慈善。有些是因为他们的孩子能自给自足、明理和善良,叫父母留给较不幸者。

“我看到许多孩子,坚持父母不要列他们为受益人,把遗产转给有需要者或其他家庭成员,我就是其中一个。”

陈子佳坦言,他叫母亲把遗产留给兄弟姐妹、侄甥和慈善,“我希望以后我的孩子,也叫我不要列他们为遗产受益人”。

他感激父亲给他最好的教育:“做人要舍得。大舍大得,小舍小得,不舍不得。”

 

个案① :防子女争财产 卖掉大洋房

为了避免留下房子惹“后患”,七旬退休专业人士数年前毅然卖掉住了几十年的大洋房,搬到市区公寓,口袋满满地与老伴安享晚年。

问有三个子女的林大悟(化名),这样做难道不心痛不可惜?难道没想过把洋房留给其中一个孩子?

他语重心长说道,屋子太旧了,修理或重建都得花钱,租出去的话,租户不一定会爱惜房子,有问题也会来烦你。

“留的话,留给哪一个孩子?大家一定有不同意见。继承的人也未必喜欢屋子和地点,还是卖了干脆。我虽然知道房价以后会涨,但留下也有后患,除非你只有一个孩子。”

林大悟说,把财富传给下一代的传统观念是时候该调整了,但也不是改变一切,一分钱都不给儿孙。

他认为,给孩子的最佳礼物就是按他们的能力,让他们接受最好的教育,在有生之年尽可能帮助孩子,使他们可以自立、自组家庭,过安定的日子。

“给他们过多遗产,他们不会知道那些是你一辈子省吃俭用积攒而来的。钱到了他们手上变成零用钱,一下子就花光了,有时还嫌不够。”

“老年人必须确保能经济自立。钱在你口袋,总比在别人口袋好。你的辛苦钱一天不用,不花在自己身上,都还不是你的。但这么说也不是鼓励你挥霍乱花。”

他也说,儿女在事业和家庭起步阶段都须要帮助,但每个的情况不同,不要顾虑分配公平与否。

“最好孩子不需要你帮太久。他们有本事的话,其实不需要你,没本事,你即使有大把钱,也会惹争端。”

他感叹,有的父母尚在,手足之间就为了争夺资产而闹上公堂。“沒教好啊。父母尚未去世已经如此,不敢想象两老不在后,会搞出什么乱象。”

他眼看一些已故名人的孩子对簿公堂,“家家有本难念的经啊!身居高位的他们已是如此,平民百姓如我更不用说了。”

他指出,自己的孩子即使多好多孝顺,他们的伴侶却是未知数,“许多纷争都由此而起,因为他们对你这个长辈以及其他家庭成员的感情不同,到头来是利字当道。”

林大悟已立了遗嘱并制订LPA。“遗嘱和LPA直接了当,我俩其中一个有事,动产与不动产全交给还在的那一个,不会牵涉下一代。”

他说:“新加坡应该有中高档次、包伙食和提供医疗等服务的退休村,让付得起的老人有私人的服务式住所。”

林大悟的许多海外老年朋友就是这样卖了大房子,把钱用在退休村,有尊严地享受剩余岁月。

林大悟最后再三提醒,每个家庭的情况都不同,关键是老年人要有经济自由。

“不要太早分家产,也不要让他们知道将得到什么。如果孩子一直要钱,不断争吵,就索性捐给可以信任的慈善机构。”

 

个案② :多年沟通与磨合 父母终于安心“花钱”享乐

多年打拼后累积可观财富,年长父母想为儿女规划财产安排未来,但儿女更希望父母专注当下享受生活。两代人为彼此着想却一度引起不愉快,但如今达成共识,老两口放心“花钱”,晚年活出精彩和意义。

陈丽丝(化名,29岁,项目经理)的父母40多年前顶下红山一家小店铺,从小买卖一步步发展。随着公司规模越来越大,陈家的经济条件越来越好,21年前搬入了荷兰村一带的独立式洋房。

“父母特别疼爱我们四个孩子,花钱毫不吝啬。但我们从小目睹父母打拼的精神,也立志像他们一样,努力自力更生。”

陈丽丝说,大哥10年前结婚时打头阵,对想要为新人买房的父母说,以后都不会拿爸妈的钱。兄妹四人借机向父母提出,希望他们能够提早退休,去享受晚年生活。

“记得当时父母的反应很激烈,还问是不是觉得他们老了没能力赚钱养家,让我们哭笑不得。”

对陈丽丝和哥哥来说,父母从小的疼爱、付出和栽培才是最宝贵的财富,再多的遗产也不及看到父母在有生之年开心重要。

经过多年的沟通和磨合,如今年近70的父母终于完全理解儿女的立场,也就遗产事宜达成了共识。

父母在疫情暴发时退休,积极投身义工和慈善。随着边境开放,两人开始出国旅行,尝试年轻时没能享受的体验。

“我们告诉父母,他们最好把所有的钱都花完,不留任何遗憾。他们看到我们事业和生活都有足够保障,也就放心让我们自理。”

妥善安排遗产 儿女父母须坦诚沟通

老年学和信托专家认为,遗产或许不是越多越好,但究竟多少才“合适”、剩余的如何安排,还须要父母和儿女坦诚开放的沟通。

新加坡管理大学法学院教授陈汉吾说,多数新加坡人都要留遗产给孩子,希望子孙过得比上一代好。《回教法执行法令》就规定三分之二遗产须留给包括孩子的受益人。

针对SKIN的趋势,他认为,老练、超高净值者认为,留太多钱给孩子不是祝福而是祸害,“要达到目标努力奋斗,太多钱反而成了障碍,也会一直怀疑人们接近他们是为了钱”。

新加坡新跃社科大学副教授(老年学课程)和体验式教育中心高级专家马学嘉博士说,多数普通收入的家长担心留给孩子太少,因此可能省吃俭用,努力存钱给孩子,给他们带来更多金钱保障。

不过,遗产积累越多,越影响父母的生活质量。

她解释,这种心态和行为源自传统的集体主义(collectivism)价值观。不论是几十人的大家庭或是仅有四五人的核心家庭,成员之间都会考虑共同利益,必要时更是准备牺牲自我利益。

随着我国社会的变迁,家庭结构有所改变,有年轻一代选择单身,即使结婚,也可能计划只养“毛孩”(意宠物)、不要儿女。他们的日常开销因此可能更少,不大需要额外的金钱贴补生活。

马学嘉说,与其父母省吃俭用、拮据度日,相信孩子更乐意看到他们安享晚年,“父母和孩子两代人的观念不同,须要坦诚开放地沟通”。

生老病死是人之常情,但人们或因恐惧而忌讳讨论,孩子该如何开口与父母讨论遗产事宜?

马学嘉强调,每个家庭有个别的相处模式,但最重要的是以父母的意愿为中心。

她分享自己做义工的经验说,一些老人家对立遗嘱所需的程序和考量不了解,儿女就说教似地告诉父母该怎么做,附加自己对遗产的设想和要求,没考虑父母想要怎么安排。

“作为儿女,我们应该帮助父母了解过程,并尊重他们的意愿,在需要时帮助他们完成。”

陈汉吾是新加坡社区基金会(The Community Foundation of Singapore)捐献者指示委员会(Donor Advised Committee)成员,也为本地慈善组织提供咨询。

他说,一些富人觉得生活在危机重重、极度不平等的世界,所以希望捐一些遗产,改善贫困甚至气候问题。

“年轻一代对留遗产给慈善事业相当正面。这一代非常热衷于一些事项,例如气候改变。”

但陈汉吾认为,为慈善捐赠财产不仅是有钱人的专利。儿女如果有一定能力,以父母的名义给学校或大学捐钱设立奖项,也很有意义。“用大概5万元设个奖项,可以纪念死者多年。”

他指出,早前的殖民时期,英国政府没提供足够的社会服务,只能靠社群自发提供援助。

本地著名的华人慈善家就有陈笃生、陈嘉庚、陈六使和李光前,陈汉吾说:“从殖民时期,慈善早就成为新加坡DNA的一部分。”

信用:联合早报©新报业媒体有限公司。复制需要许可

This article was originally published in Zaobao here. Source: Zaobao © SPH Media Limited. Permission required for reproduction.

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Opinion

Collaborative giving: How it creates social change

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exciting launch of Singapore Youth Impact Collective with youth leaders and supporters.

Ubuntu– it’s an ancient and beautiful concept from South Africa often used today to convey how a community is the building block of society. In South Africa, it simply means: “I am, because of you.”

Today, with technology and the lean towards strategic, outcome-focused giving, the spirit of ubuntu endures in the form of collaborative giving. Giving together is rapidly gaining traction as people recognise the complexity of social issues and the need for many helping hands.

Collaborative giving can take different forms, but it simply describes individuals coming together to pool their time, treasure or talent towards creating social change. Each model of collaborative giving differs with regards to the level of collaboration and involvement partners exert to achieve a certain outcome.

A spectrum of giving models
Online giving platforms and group funding opportunities empower a wide spectrum of donors to easily contribute to a cause, without requiring further engagement. Giving circles offer members a platform to get more involved, where members not only pool resources but meet to learn about social issues for more informed decision-making.

On the other end of the spectrum is collective impact – a specific model of collaboration that offers the greatest potential for social impact when harnessed well. Here, major actors from different sectors commit to a specific agenda for solving a particular social issue. Collective impact initiatives are distinct from other forms of partnerships because they share a centralised infrastructure, a common agenda and shared system of measurement, and continuous communication amongst partners.

Empowering collective giving
At the Community Foundation of Singapore (CFS), we count it as our mission to enable donors to learn and tap on these different models of collective giving.

In 2018, the Singapore Youth Impact Collective became the first local initiative to adopt the collective impact model for tackling a social issue. Several multi-sector partners – with CFS as the backbone organisation – are working together to help disadvantaged youth transit more successfully to work-life. The collective was formed when its members participated in Colabs, a philanthropic initiative by CFS and the National Volunteer and Philanthropy Centre intended to deepen understanding and drive collaboration towards addressing community needs.

Over the years, we have also grown our Community Impact Funds which support under-served causes and are open to givers from all walks of life. While collaboration may be the way forward for larger scale change, we believe fundamentally in the strength of giving as a community, for the community.

By putting the opportunity for social change back into our own hands, we hope to nurture the spirit of ubuntu, of interconnectedness and shared humanity – and we sincerely hope you pass the flame on too.

Joyce Teo
Deputy CEO
Community Foundation of Singapore

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The competition was organised by City Harvest Community Services Association and received support from FUN! Fund, a Community Impact Fund jointly established by the Community Foundation of Singapore and the Agency for Integrated Care, with the aim of addressing social isolation among the elderly.

Senior Minister of State, Ministry of Communications and Information & Ministry of National Development Mr Tan Kiat How attended the event. He encouraged the elderly to stay physically and mentally well, as well as urging them to participate in community activities and enjoy their golden years together.

Learn more about FUN! Fund at https://www.cf.org.sg/fun-fund/.

 

The programme provides the children with a non-threatening platform to connect with peers and have positive conversations. In addition, it exposes them to different people who can assist to broaden their perspectives.

L.S., a volunteer with the Reading Odyssey programme @ Spooner Road

中心“常胜将军”胡锦盛:比赛限时反应要快

现年92岁的胡锦盛是最年长的参赛者。自2017年退休后,他几乎每天都到活跃乐龄中心报到,从此爱上了玩拉密,每次可玩上三个小时,在中心是“常胜将军”。

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Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book.

Opinion

Speech by Grace Fu, Minister for Culture, Community and Youth at CFS’s 10th anniversary celebrations: Working together to build a caring Singapore

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John Doe
Grace Fu delivering speech at podium to audience.

Mr Laurence Lien, Chairman, Community Foundation of Singapore
Ms Catherine Loh, CEO, Community Foundation of Singapore
Distinguished Guests
Ladies and Gentlemen

It is indeed my great pleasure to be here today. First, I would like to congratulate the Community Foundation of Singapore (CFS) on its 10th anniversary. Throughout the past decade, CFS has done excellent work in raising funds and giving out grants, as well as in inspiring and enabling giving in Singapore. This is in no small part due to the generosity and hard work of staff, donors and partners. I’d like to express my gratitude and to commend all of you for your contributions. CFS was first started during the tumultuous period after the global financial crisis, and conversations about donations must have been difficult. Nevertheless, under the stewardship of Laurence, Catherine and Stanley, CFS has really grown over the years. Once again, thank you so much!

Philanthropy has played an important role in Singapore’s history
Philanthropy has always played an important role in the history and development of Singapore. In fact, records of philanthropy in Singapore go back to as early as the 1800s when immigrants came to this country in search of opportunities. Notable philanthropists such as Lim Nee Soon, Tan Kah Kee, Syed Mohamed Alsagoff and Govindasamy Pillai have responded to the needs of their times. These are early pioneers who have very selflessly and generously helped their communities. They helped to build up Singapore in the pre-war years, rebuild it in the post-war years, and worked alongside the government to develop our infrastructure after independence.

Today, it is just as crucial to build a culture of care and contribution. We live in an increasingly complex and dynamic environment. In many developed countries, socio-economic challenges have bred distrust and grown uncertainty. Terrorism continues to be a global threat. Within our region, exclusivist trends are rising, and societies are becoming increasingly polarised. At the same time, technology is disrupting nearly everything, from industries and jobs, to the way we live, to the way we do business and interact with one another, to our social hierarchy. Singapore is not immune to such threats and challenges, especially when we are so diverse as a people. So when we care and look out for one another, when we have that relationship that is beyond the transactional but instead comes from within the heart and is genuine, we will be better equipped to stand together in times of crisis.

Government support for philanthropy
There is already a strong support infrastructure for philanthropy to thrive. The Government gives tax deductions for donations to charities. There are matched-funding initiatives that have spurred more giving by individuals and corporates; for example, MCCY’s Cultural Matching Fund which supports giving to arts and culture, and the One Team Singapore Fund, which supports high performance sport.

The Government is also committed to developing a well-governed and thriving charity sector, with strong public support. In January this year, the Parliament passed the Charities (Amendment) Bill, which seeks to strengthen governance of fund-raising in response to trends in charitable giving.

As Singapore’s only community foundation, CFS plays an important role as a bridge between local communities and the larger charitable ecosystem. Beyond just encouraging cheque-book donations, CFS has connected donors with organisations that support their cause. For example, 71-year-old Mr Govind Bommi felt an affinity for the eldercare sector. Through CFS, he was connected with Metta Day Rehabilitation Centre, which provides rehabilitative care for elderly beneficiaries from all races and backgrounds. He then set up a fund to support the Centre, and continues to volunteer there today.

Closing gap between aspiration and participation
But there is more we can do for Singapore to be a more caring society. The Individual Giving Survey conducted by the National Volunteer & Philanthropy Centre (NVPC) showed that although the total donation amount to organisations has grown over the years, the overall rate of donation* has declined, with 3 in 4 donating in 2016, compared to 9 in 10 a decade ago. However, among the non-donors, 1 in 3 said they are likely to donate in future. Similarly, in the volunteering space, there is high propensity among non-volunteers to volunteer in future.

We want to close this gap between aspiration and participation, and unite Singaporeans through a common culture of care. This is the basis for SG Cares, a national movement for us to better support one another in making Singapore a caring society through giving, through volunteering, and through acts of kindness. By bringing together partners across the people and private sectors, SG Cares enables the building of capabilities across organisations to grow opportunities for contribution. SG Cares also better equips individuals and organisations who want to give back, and connects them with suitable opportunities to do so. So it’s very much an encouragement and a call to action. But more importantly, it’s about building the infrastructure, platforms, connections and capabilities within the sector.

The work at CFS contributes to SG Cares, because an impactful philanthropy landscape is a hallmark of a caring society, where those with resources give back effectively to help those in need. Collaboration is the way to go, and donors today are taking more initiative, and seeking more meaningful engagement opportunities. CFS is well positioned to seize these opportunities and provide the platforms. For example, the Colabs series by CFS and NVPC brings together givers, non-profits and sector experts to build insights and co-create solutions together. This not only encourages more collective efforts that deliver impact, but also deepens the knowledge base to guide donors to areas of needs. It also improves the design of programmes and how volunteers are involved, to better serve the community.

Caring involves all of us
The making of a caring Singapore involves and requires all of us – the government, non-profit sector, businesses and individuals – to work together to find solutions and demonstrate care and compassion for our community. With this shared sense of responsibility, we stand a better chance in riding out the waves of global uncertainty and disruption. By caring for one another, we foster resilient communities that stand together in both good and bad times.

To conclude, I would like to leave you with the words of Winston Churchill: “We make a living by what we get, but we make a life by what we give.”

Once again, congratulations to CFS on your 10th anniversary! And once again, thank you for your contributions and I hope you will continue to inspire others with your efforts and actions. I’m sure there will be greater capacity for CFS to grow. Thank you.

Grace Fu
Minister for Community, Culture and Youth

*Through both formal and informal means.

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The competition was organised by City Harvest Community Services Association and received support from FUN! Fund, a Community Impact Fund jointly established by the Community Foundation of Singapore and the Agency for Integrated Care, with the aim of addressing social isolation among the elderly.

Senior Minister of State, Ministry of Communications and Information & Ministry of National Development Mr Tan Kiat How attended the event. He encouraged the elderly to stay physically and mentally well, as well as urging them to participate in community activities and enjoy their golden years together.

Learn more about FUN! Fund at https://www.cf.org.sg/fun-fund/.

 

The programme provides the children with a non-threatening platform to connect with peers and have positive conversations. In addition, it exposes them to different people who can assist to broaden their perspectives.

L.S., a volunteer with the Reading Odyssey programme @ Spooner Road

中心“常胜将军”胡锦盛:比赛限时反应要快

现年92岁的胡锦盛是最年长的参赛者。自2017年退休后,他几乎每天都到活跃乐龄中心报到,从此爱上了玩拉密,每次可玩上三个小时,在中心是“常胜将军”。

Picture of admin bluecube
admin bluecube

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book.

Opinion

Sustainable Philanthropy Matters: Navigating the SDGs with Philanthropy

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poster about sustainable philanthropy: navigating the SDGs with philanthropy

In this three-part series ‘Sustainable Philanthropy Matters’, we explore the surprisingly intimate relationship between philanthropy and sustainability and how the practice of one can in fact, lead to the advancement of the other. Both of these issues are close to our hearts here at CFS and we want to share how our philanthropy can help preserve our planet, our communities and our future.

Philanthropy has traditionally been aimed at supporting societal needs. In recent years, the increasingly pressing demand for climate reformation requires the influx of tremendous funding to support the advancement of the Sustainable Development Goals (SDGs), from R&D and technological applications to conservation and community efforts. Beyond the responsibilities of governments and businesses, philanthropy has a huge role to play. While this may sound novel, it actually is not and, in this third and final instalment of Sustainable Philanthropy Matters, we examine how philanthropy can help stem the tide of climate change.

The Interconnectedness of Sustainability

At first glance, the 17 SDGs might seem a little daunting, like some miniature Periodic Table meant to scare students. It may help to see this as one concerted effort to effect long-lasting change, to ensure the sustainable survival and thriving of both People and Planet.

This holistic approach is evident in that all the SDGs are, in fact, interconnected. In the last article, this was explained in a sustainable farming example. Besides these issues, the SDGs also help us to realise the borderless world we now live in. For example, rampant slash-and-burn agriculture in Indonesia (BBC News,bbc.com/news/world-asia-34265922 2019), droughts in California (Bernstein, 2015) and declining wild salmon populations in the Atlantic (Forseth, Barlaup, Einum, Finstad, Fiske et al, 2019, page 2) all have one thing in common: they affect communities in Singapore.

The first spells an annual onslaught of respiratory problems as haze blankets the country while the latter two impact our food supply, namely oranges and smoked salmon.

Everyone’s Cost to Bear

Those three problems are just some of the innumerable issues worldwide that the SDGs seek to address. A glance at the big picture shows that achieving the SDGs has a hefty price tag of an estimated $5t to $7t, although the silver lining of this is that that achievement could open up $12t of market opportunities (United Nations, 2022).

However, the localised impact demonstrated above makes it abundantly clear that we all have a stake in ensuring that those goals are achieved. Singapore’s enhanced Nationally Determined Contributions (NCCS, 2022) towards the SDGs, executed through initiatives such as the Green Plan 2030 (SG Green Plan, 2022) and 30 by 30 (SFA, 2021), cannot be achieved by the public and private sector alone. It requires individuals’ combined efforts, through practice and philanthropy.

The role of and need for philanthropy is even greater when we consider the Singaporean Government’s stance to avoid being a welfare state and instead, offer tiered and limited safety nets for those in need (MOF, 2020). While there is certainly a need to address the SDGs in the local context—such as those relating to poverty, hunger, health and education—Singaporeans are required to help themselves in this meritocratic system.

Partly because this is clearly easier said than done, a small sum is deducted from employees’ wages in Singapore that goes towards four racially-oriented Self Help Groups. So unless one opts out of this scheme, every salaried resident in Singapore is already involved in some form of philanthropy. 

Charities, Charities Everywhere

Of course, that sum is a miniscule drop in the large scheme of things, with $25.69m for the CDAC$8.54m for Mendaki$18.87m for SINDA and $0.78m for the Eurasian Community Fund, against a national total of $2.9b donations in 2019 (MCCY, 2020, page 4). Many non-profits and voluntary welfare organisations and their care recipients still rely on the goodwill of philanthropists.

While there are thankfully many generous donors out there, there is also a baffling number of charities and IPCs (Institutes of Public Character, which are held to even more stringent governance standards): 2,281 at the end of 2019, to be exact (MCCY, 2020, pages 13 and 17). Just like the SDGs, more charities are related to addressing societal needs than environmental ones.

That line is blurring today with countless examples: a centre for autism implementing an urban farming programme, a society that safeguards the cleanliness of our waterways for the local wildlife and citizens alike, and tree planting exercises for the public by the Garden City Fund.

Yet, there are still a lot of untapped opportunities. We need to develop programmes and build the capability that will allow our social sector to effectively address the SDGs in the local context and with environmental considerations. That requires funding — for research, pilot programmes and training.

A Touch of Philanthropic Professionalism

In breaking all this new ground, it is prudent to apply a layer of Governance checks over the Social and Environmental orientations and objectives of all the organisations and programmes.

Thankfully, one does not need to worry too much about Governance here in Singapore. Local regulations require charities and IPCs alike to be transparent about their operations, activities and finances.

As a winner of two accolades for transparency and governance at the 2019 Charity Governance Awards, CFS is ever-cognisant of the importance of balancing the outputs and outcomes of charities and their activities with their strategy and operational methods.

If you would like to know more about how CFS can help you source for, identify and evaluate programmes that both meet your philanthropic preferences and address the SDGs, please visit here.

To read the other 2 stories in the ‘Sustainable Philanthropy Matters’ series, please click below:

This article was written by Adam, a Principal Consultant with CFS and an experienced sustainability practitioner. He is an advocate for sustainable practices. His colleagues are still wondering how his monthly household utilities bill is only around $70.

Disclaimer: The opinions expressed in this publication are those of the author. They do not purport to reflect the opinions or views of CFS or its members.

References

  1. BBC News. (16 September 2019). Indonesia haze: Why do forests keep burning? https://www.bbc.com/news/world-asia-34265922
  2. Bernstein, Sharon. (2015). California citrus farmers pull up trees, dig reservoirs to survive drought. Reuters. https://www.reuters.com/article/us-usa-california-drought-farmers-idUSKCN0RB15420150911
  3. Forseth, T.,  Barlaup, B. T., Einum, S., Finstad, B., Fiske, P, et al. (2019). Status of wild Atlantoc salmon in Norway 2019. https://www.vitenskapsradet.no/Portals/vitenskapsradet/Pdf/Status%20of%20wild%20Atlantic%20salmon%20in%20Norway.pdf
  4. Ministry of Culture, Community and Youth. (September 2020). Commissioner of Charities: Annual Report 2019https://www.charities.gov.sg/PublishingImages/Resource-and-Training/Publications/COC-Annual-Reports/Documents/Commissioner%20of%20Charities%20Annual%20Report%202019.pdf
  5. Ministry of Finance. (Updated 25 November 2020). Singapore Public Sector Outcomes Review: Social Safety Nets. https://www.mof.gov.sg/singapore-public-sector-outcomes-review/citizens/opportunities-for-all-at-every-stage-of-life/social-safety-nets
  6. National Climate Change Secretariat of Singapore. (28 February 2020). Singapore’s Enhanced Nationally Determined Contribution and Long-Term Low-Emissions Development Strategy.  https://www.nccs.gov.sg/media/press-release/singapores-enhanced-nationally-determined-contribution-and-long-term-low-emissions-development-strategy
  7. SG Green Plan. (Updated 28 January 2022). https://www.greenplan.gov.sg/
  8. Singapore Food Agency. (Updated 17 December 2021). https://www.ourfoodfuture.gov.sg/30by30
  9. United Nations. (Accessed 16 February 2022). FAQ: How much will the implementation of this sustainable development agenda cost? https://www.un.org/sustainabledevelopment/development-agenda/
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